The psychology of consumer behavior examines how individuals make purchasing decisions and the factors influencing those choices. Key aspects include **motivation**, where needs and desires drive buying behavior, and **perception**, which affects how products are viewed and valued. **Emotional responses** play a significant role, with feelings and brand associations impacting decisions. **Social influences**, such as peer opinions and cultural norms, also shape consumer choices. **Cognitive biases**, like the anchoring effect or scarcity principle, can affect judgment and decision-making. Understanding these psychological factors helps businesses tailor marketing strategies, improve customer experiences, and effectively meet consumer needs.